Billionaire industrialist Razaq Okoya has shared details of his succession plan, revealing that he is preparing the children he has with his wife, Shade Okoya, to take over his business empire.
Speaking during an interview on Arise TV, the 79-year-old businessman said his main focus is now on grooming his younger children for leadership. According to him, they represent the future of the family business.
“I am holding these younger ones close so they don’t go astray like the older ones. At 79, I have to pass it on to them,” he said.
Okoya explained that his plan is not just about handing over wealth but about preparing them with the right values and experience. He stressed the importance of discipline, honesty, focus, determination, and punctuality in running a successful business.
“Number one is experience. Number two, they have to learn how to be focused, honest, determined and punctual,” he added.
He also revealed that one of his daughters is currently studying in Europe but regularly returns to Nigeria to understand how the family business operates. While she is gaining international exposure, Okoya said it is important for her to also understand the local business environment.
During the interview, he praised his wife, Shade Okoya, for her major role in strengthening and expanding the empire. He described her as fully involved in the daily operations, stating that she goes to the factory early in the morning and returns in the evening, overseeing key activities.
Okoya further made it clear that he has no plans to list the company on the stock exchange, insisting that the business will remain under family control.
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